Unfortunately that is correct there will be no way to transfer NCAA players from your Dynasty mode or from your Road to Glory mode. There are several features that were left out when they added Connected Careers mode. Here is a list of some of the missing features: No importing draft classes or Road to Glory players.
No editing rosters in Connected Careers. You can edit rosters from the main menu, but you CAN'T use those rosters in Connected Careers. If you start a Connected Career you have to use EA's rosters.
No multiple team control. You can only control on coach or player in your Connected Career. This means if you want to have two people playing on the same console you pretty much have one option and that's Play Now mode.
No "couch co-op". In previous Madden games you could have two controllers on the same team during Franchise mode, but Franchise mode is now gone and Connected Careers does not allow two controllers on the same team. I believe two people can play co-op in Play Now mode, but I'm not 100% sure on that.
The new mode looks like it has some potential, and the new gameplay engine looks nice, but they have taken a lot of features away in the process.